True Product Success - What is it exactly?
Increasing customer expectations, a complex regulatory landscape, rising costs, global trade patterns, supply chain shifts, changing workforce demographics, and fast-paced technological innovations are all leading to a new transformational age.
Business executives need to bring the right products to market quickly and ensure their ongoing success while meeting aggressive growth and profitability targets as well as reducing costs earlier in the production cycle. However, existing functional silos and disparate systems fail to advance this mission.
For true product success, companies need to break these silos and connect the people, systems, and processes that are required to deliver market-leading products from concept to customer.
So, how should product manufacturers stage their companies for product success and swiftly navigate the challenges that are impacting them today? The below strategies help boost innovation, improve quality, and maximize profitability and market share.
Get products to market faster
Customers have come to expect unique and enhanced products, which has led to a significant shrinking of product life cycles. To survive and thrive in today's competitive world, product organizations need to move quickly to bring innovative and cutting-edge products to market faster. As a product manufacturer, you need complete data visibility and control along with the ability to respond to ever-changing market conditions faster than your competitors. Absolute data accuracy, integrated analytics, and access control are mandatory to make informed decisions that accelerate time to market.
Maximize customer satisfaction
Today, technology has gripped each of us. We use multiple products throughout the day to check our emails, post pictures, share videos, keep fit, call our loved ones, and so much more. Discontinuity in product experience results in dissatisfied customers. Your product record must integrate tightly with the sales and service records to bring valuable feedback to effect. It translates to happy and satisfied customers by offering meaningful user experiences and products they will love.
Go global to every market and regulatory environment
Each industry and every local market has its own set of stringent rules and standards that product companies need to abide by to compete and sell in worldwide markets. To manage product configurations intelligently and drive increased sales revenue, market share, and profitability, product companies must meet local market standards and comply with different regulatory requirements at both the product and commercial level.
Deliver consistent profits by decreasing costs
Product companies need to control costs while bringing quality and innovation to the market by incorporating product feedback earlier in the design phase, conducting early manufacturing testing, and comparing alternate suppliers before the production ramp. More efficient product design, supply chain optimization, and preventive maintenance help decrease costs and deliver consistent profits.
Unlock modern cloud benefits
Cloud technologies offer remarkable installation and upkeep cost reduction, limitless scaling, and efficient handling of your data from anywhere. Customers of the modern era are social- and mobile-first and want to access their product data from anywhere, anytime, easily. They want to interact and make quick and intelligent decisions earlier in the product development process to avoid unnecessary delays and downtime. To create products according to your customers' desires, you need a highly configurable, flexible, secure, and intelligent platform.
See How It Works
Propel is Product Success Delivered.
Propel's configurable collaboration Product 360 platform is the single source of product truth offering complete data accuracy, integration with sales and service, and local market compliance capabilities to swiftly navigate challenges such as global instability, uncertain regulatory environments, changing workforce expectations, marketplace disruptors, platform consolidation, the rise of the customer, and digital transformation.
Built entirely on Salesforce, our platform extends all the benefits of the industry's top-rated modern cloud platform such as data security, flexibility, configurability, ease of use, extensibility, mobility, analytics, and reporting. Owing to Salesforce's multi-tenant cloud architecture, Propel will always be your next-gen solution, ready for whatever requirements the future may bring.
EBOOK | Product Success Delivered
Companies must remain competitive against other nimble challengers and delight their customers all while ensuring absolute compliance, which requires visibility on multiple levels. Get the ebook here to learn more.